BTC H4 - symmetrical triangle spotted . preferable to see a H4 breakout above 30.7K. big trend is still bearish (Weekly & Daily). But H1 & H4 is more favor to Bull (short term bullish). MACD for H4 = Bullish.
BTC tentatively form a support zone at 37.8k-38.3k
Stochastic at Oversold region.
seeing potential rebound at this level.
next resistance 39k , 39.3k
Note: Daily chart is still bearish. only look for short term bounce.
BTC second attempt to Breakdown below 39.3k ( stop hunts) during Asian Session.
a strong come back during US session (second half).
based on this Price Action , we are bullish on BTC, seeing potential to revisit 42K zone.
From Daily point of view, Bull in control after breakout above 40K. But got a minor rejection when attempt to break above 42K.
For a Bull to stay in control, BTC need to stay above 40K,next strong resistance at 45K
Support : $41,000, $40,000
Resistance: $42,000, $45,000
We are Bullish bias with BTC.
From hourly Chart point of view, BTC unable to go through 42.4K, currently re-test the support zone.
Resistance: 42K , 42.4K
Support: 41K , 41.4K
BTC need to break and closed above 42.4K for another rally. Otherwise, may expect for sideways movement.